Inflation figures for the month of May 2019 released by the National Bureau of Statistics (NBS) showed Headline inflation rose to 11.40% year-on-year in May, from 11.37% recorded in April 2019.
On a month-on-month basis, inflation increased by 1.11% in May 2019, representing 0.17% increase from the rate recorded in April 2019.
Urban inflation rate increased by 11.76% year-on-year in May 2019 from 11.70% recorded in April 2019. On a month-on-month basis, urban inflation rose by 1.15 % in May 2019, 0.15 points higher from 1.00% recorded in April 2019.
Rural inflation rate increased by 11.07% year-on-year in May 2019 from 11.08% in April 2019. On a month-on-month basis, rural inflation rose by 1.07% in May 2019, up by 0.17 from the rate recorded in April 2019.
The composite food index rose by 13.79% year-on-year in May 2019 compared to 13.70% in April
The rise in the food index was caused by increases in the prices of Meat, Oils and fats, Bread and cereals, Potatoes, yam and other tubers, Fish, Milk, cheese and egg, and Vegetables.
In all items inflation on year-on-year basis, Kebbi (15.76%), Bauchi (14.97%) and Kaduna (13.74%) recorded the highest increase. While Abia (9.91%), Cross River (9.68%) and Kwara (8.45%) recorded the slowest rise in headline year-on-year inflation.
In May 2019, food inflation on a year-on-year basis was highest in Kaduna (17.10%), Kebbi (18.90%) and Gombe (16.90%), while Kogi (11.80%), Rivers (11.70%) and Abia (10.90%) recorded the slowest rise.
